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20 Mil Réis Banco Emissor do Norte
| Issuer | Banco Emissor do Norte |
|---|---|
| Year | 1890 |
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| Currency | Real (1799-1942) |
| Composition | Log in to see details |
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| Obverse description | Black intaglio on yellow and blue underprint. A circular vignette at left contains a figure of Minerva; a palm tree occupies the right side; and the coat of arms of the Republic is centered on the note. Print and series numbers appear in black, with the order number in red. Issued as a specimen only and never placed into circulation. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Printed in blue intaglio (chalcography). A central-left panel contains a vignette of the Banco Emissor do Norte building, rendered in fine engraved detail against a plain ground, with the decree reference and bank name lettered around the composition. |
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| Comments |
The Banco Emissor do Norte was one of several regional banks created under Brazil's 1888 banking reforms, which dramatically loosened the rules on note issuance in an attempt to stimulate industrial investment. The result was a proliferation of competing emissions that overwhelmed the market — a period Brazilians came to call the Encilhamento, a speculative frenzy that collapsed spectacularly by 1891. This note was issued right at the peak of that bubble.
ABNC supplied plates for dozens of Brazilian regional institutions during this period, and the quality of their engraving stands in sharp contrast to the fiscal chaos these notes helped produce. The Banco Emissor do Norte itself had a short operational life before the federal government moved to consolidate currency authority.